ABC Corporation purchased a residential property for the use of its Accounting Manager. The property is payable
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Question:
ABC Corporation purchased a residential property for the use of its Accounting Manager. The property is payable over 12 annual installments of P275,000 including interest but have a cash price of P3,000,000. ABC Corp. opted to capitalize the interest and recorded the P3,300,000 Contract price as acquisition cost of the property.
Required: Find out the monetary and determine the quarterly fringe benefit tax.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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